Logo of Naseej for Communication and Information Technology Co.
Naseej for Communication and Information Technology Co. starts trading on Nomu-Parallel Market today, May 24, under the symbol 9538 and ISIN Code SA15IH34L116, according to the Saudi Exchange (Tadawul).
Daily fluctuation limit is ±30% and static price fluctuation limit is ±10%.
On March 28, the Capital Market Authority (CMA) approved the company’s application to register its shares for direct listing on Nomu, according to data compiled by Argaam.
Naseej Communication announced, on April 20, the registration document for listing its shares on Nomu and set the price guidance for trading its shares at SAR 70.
With Naseej Communication the number of Nomu listings in 2022 is up to 12 companies, which includes five direct listings and seven offerings for qualified investors.
Company Profile:
Naseej Communication was established in Riyadh as a sole proprietorship in 1989. In 1995, it transformed into a limited liability company, and in September 2021 into a closed joint stock company, with a current capital of SAR 50 million.
The company's current activity include computer programming, computer consultancy, computer facilities management, artificial intelligence technologies, augmented virtual reality technologies, big data technologies, data science and analysis, information technology services, and the sale of computers, computer peripheral equipment and software.
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Company Profile |
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Company |
Naseej for Communication and Information Technology Co. |
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Market |
Nomu-Parallel Market |
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Core Activities |
Computer programming, computer consultancy and facilities management activities |
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Status |
Active |
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Capital |
SAR 50 mln |
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Direct Listing Profile |
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Number of shares |
5 mln |
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Share par value |
SAR 10 |
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Share price guidance upon listing |
SAR 70 |
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Method of setting share opening price |
The opening price of the stock shall be set based on the supply and demand for the stock, through the pre-opening auction mechanism. During that period, investors can place buy/sell orders, after which the trading system defines the fair price at which orders are executed after being matched during the auction period. The execution price will be the opening price, with a 30% daily fluctuation ratio.
The price guidance is considered a reference only for the fair market value, which is the debut price for the first day only. |
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Qualified investors |
- Current shareholders (except for owners of 5% or more, to whom the lock-up period shall apply).
- Qualified investors categories |
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Company Shareholders |
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Shareholders |
Before the direct listing |
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Number of shares (‘000) |
Ownership (%) |
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Abdul Jabbar Abdulrahman Mohammed Al Abdul Jabbar |
2,024.0 |
40.48% |
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Mohammed bin Abdullah bin Adwan |
1,012.0 |
20.24% |
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Abdullah Awad Ayed Al-Tarifi |
352.0 |
7.04 % |
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Abdullah bin Abdulaziz bin Adwan |
151.0 |
3.02% |
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Abdulrahman Al Abdul Jabbar |
8.0 |
0.16% |
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Abdulaziz Saleh Abdullah Alrabdi |
8.0 |
0.16% |
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Latifa Ayad Alshammari |
7.5 |
0.15% |
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Suad Abdulaziz Al-Ohali |
6.0 |
0.12% |
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Nawaf bin Mohammed bin Adwan |
6.0 |
0.12% |
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Al-Jawhara bint Abdulaziz bin Muammar |
3.0 |
0.06% |
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Public (62 shareholders) |
1,422.5 |
28.45% |
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Total |
5,000.0 |
100.00 % |
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